Today Is Your Last Chance to Claim Your November Child Tax Credit

Happy family in the field full of pumpkin.
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The child tax credit has distributed millions of payments to American families, but if you aren’t already receiving them, you’ll have to sign up by midnight tonight to receive November’s payment.

See: Stimulus Update — Reasons Your October Child Tax Credit Payment Hasn’t Hit Yet
Find: How to Refinance a Mortgage

If you sign up to claim the credit by Nov. 1, you will get half the total credit upfront with the November and December payments, and then receive the other half as a refund from the IRS when you file your 2021 tax return during next year’s tax season.

If you miss the Nov. 1 deadline and still want to receive a child tax credit payment this year, you have until Nov. 15 to sign up for December’s payment. Because December is the last month for the advance monthly payments, you’ll have to enroll before the deadline or else wait until you file your regular tax return to receive the credit.

Use the site to sign up. This site, offered through the U.S. Treasury Department in partnership with Code for America and the White House, is the only means of sign-up you can use.

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One of the benefits of signing up now is larger payments. For example, the full benefit amount per eligible child under age six is $3,600. Half of that amount, $1,800, has been divided into six monthly payments of $300. If you sign up now, though, you will simply receive two payments of $900 — one in November and one in December. The other $1,800 will then be available once you file your tax return (or claim the credit, for non-filers) next year.

See: How to Change Your Direct Deposit Information on the Child Tax Credit Update Portal
Find: Stimulus Alert — Is the Future of the Child Tax Credit in Danger of Massive Reduction?

To reiterate:

  • If you wish to sign up for November’s payment (or opt out of it), the deadline is this Monday, Nov. 1, at 11:59 p.m.
  • If you wait until Nov. 15 to sign up, you will receive one lump sum check of $1,800 — the entire first half of the full benefit amount — in December. 

Whether you file or not, you can use the website to sign up for the tax credit. The credit is fully refundable, meaning even if you do not file taxes or do not make enough income to file, you can still receive the credit — and never have to pay it back. 

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About the Author

Georgina Tzanetos is a former financial advisor who studied post-industrial capitalist structures at New York University. She has eight years of experience with concentrations in asset management, portfolio management, private client banking, and investment research. Georgina has written for Investopedia and WallStreetMojo. 
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